Section 54
Premiums and surcharges on deposit-taking members deemed earned
of Malaysia Deposit Insurance Corporation Act 2011
ActIn forceProvision 57 of 236
Section 54
(1)
Subject to subsection (2), any premium or premium surcharge payable under this Part shall be deemed to be fully earned when payable and shall not be refundable.
(2)
The Minister may, on the recommendation of the Corporation, by order published in the Gazette—
(a)
provide for the partial or total reduction, waiver, refund or rebate of the amount of any premium or premium surcharge to such deposit-taking member; and
(b)
specify any condition in respect of paragraph (a).